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SAP Accelerates Cloud Growth Across Portfolio: Raises Revenue and Profit Outlook

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We’re seeing strong adoption of our cloud portfolio as customers select SAP for their business transformation. Our strategy is working; This is the third straight quarter of strong execution, and we continue to deliver unparalleled customer value through the strength of our platform and applications.
Christian Klein, CEO

This has been another strong quarter with accelerating growth for SAP’s cloud portfolio. We saw excellent customer momentum and adoption and are raising our outlook for revenue and profit.
Luka Mucic, CFO

SAP SE (NYSE: SAP) today announced its financial results for the second quarter ended June 30, 2021.

Business Update Second Quarter 2021

Customers continue to choose SAP as they move to the cloud and transform their business processes. SAP is seeing strong demand and adoption of its ‘RISE with SAP’ offering which customers of all sizes are selecting to manage this transition. SAP is also seeing strong growth in current cloud backlog across its cloud portfolio including Business Technology Platform, Business Process Intelligence, Qualtrics, as well as Customer Experience. SAP had significant competitive wins in ERP, SuccessFactors, Commerce, Intelligent Spend, and across its broader cloud solution portfolio.

SAP’s cloud revenue growth accelerated sequentially. SAP saw the first signs of recovery in travel and expense management with the easing of global travel restrictions, which led to Concur stabilizing its sequential performance for the first time since the pandemic began. The Company’s Intelligent Spend category returned to growth but continued to be impacted by the COVID-19 crisis more than other SaaS/PaaS solutions.

Current cloud backlog growth also accelerated further sequentially. As more customers transition to the ‘RISE with SAP’ subscription offering, software licenses revenue decreased as anticipated.

In general, as many countries began to reopen, SAP saw a positive impact on demand around the world.

Highlights

  • ‘RISE with SAP’ gained even more traction after a successful launch in the first quarter. SAP saw strong demand from companies of all sizes and closed deals with more than 250 customers in the second quarter. Large customers such as AMD, Coop Switzerland, Etihad Airways, and Siemens Energy selected ‘RISE with SAP’. Additional wins included arena, Dixons Carphone, EBANX, Fujifilm Diosynth Biotechnologies, The Great Eastern Shipping Co., Inchcape, Mollie, National Basketball Association (NBA), Randstad, R. Twining & Co., and South32 Group.
  • More than 600 S/4HANA customers were added in the quarter, taking total adoption to more than 17,000 customers, up 16% year over year, of which more than 10,100 are live. In the second quarter, more than 50% of the additional S/4HANA customers were net new.
  • Key customer wins across SAP’s solutions portfolio included: ABN AMRO, Clarins, Coca-Cola FEMSA, , Florida Crystals, Florida Department of Management Services, Keolis Group, LeasePlan Corporation, Moderna, Molson Coors Brewing, Nationwide Building Society, Rabobank, Roca Sanitario, The Singapore University of Technology and Design, Stanley Black & Decker, and Tenneco. Bitburger Braugruppe, Wales & West Utilities, and Weber-Stephen Products all went live on SAP solutions in the second quarter.
  • SAP Business Technology Platform (SAP BTP) is the foundation of the Intelligent Enterprise, providing a single platform for integration and extensibility across the SAP portfolio and non-SAP solutions, as well as deriving insights from data. The Company already has over 8,000 productive BTP customers and more than 4,000 partners within its ecosystem actively engaged. Hilti, Lenovo, NEC, and Renault chose SAP BTP offerings in the second quarter. Current cloud backlog grew in strong double digits. Hilti, Lenovo, NEC, and Renault chose SAP BTP offerings in the second quarter.
  • Signavio had an outstanding first full quarter as part of SAP’s Business Process Intelligence (BPI) segment. Current cloud backlog grew in triple digits. SAP’s BPI solutions are key to our customers’ business transformation and acceleration to the cloud.
  • More than 52,000 attendees from 158 countries joined SAPPHIRE NOW, SAP’s flagship customer event, across its global and regional sessions.
  • In addition to driving innovation in and beyond our core, SAP is continuously expanding into new markets. SAP expects to expand its 2025 Total Addressable Market (TAM) by $150 billion, totaling $600 billion.
  • Sustainability continues to be at the center of SAP’s business model. In the second quarter, SAP joined the World Economic Forum Stakeholder Capitalism Coalition.
  • SAP announced ‘pledge to flex’ in April, showing its commitment to a truly flexible remote workforce operating model even beyond the pandemic.
  • SAP paid out an annual dividend of €1.85 per share in the amount of €2.2 billion for fiscal year 2020 representing a year-over-year increase of €0.27 or 17%.

Financial Performance Second Quarter 20211

SAP’s strong cloud momentum continued in the second quarter with both current cloud backlog and cloud revenue growth accelerating sequentially. Current cloud backlog was up 17% to €7.77 billion (non-IFRS) and up 20% (at constant currencies). Cloud revenue was up 11% to €2.28 billion and up 17% (at constant currencies). SaaS/PaaS cloud revenue outside the Intelligent Spend business was up 20% and up 25% (at constant currencies). Software licenses revenue was down 16% year over year to €0.65 billion and down 13% (at constant currencies). Cloud and software revenue was up 1% to €5.75 billion and up 5% (at constant currencies). Services revenue was down 11% year over year to €0.92 billion and down 7% (at constant currencies). This revenue decline is primarily attributable to the November 2020 divestiture of SAP Digital Interconnect, which contributed approximately €80 million of services revenue in the second quarter of 2020. Total revenue was down 1% year over year to €6.67 billion and up 3% (at constant currencies).

The share of more predictable revenue grew by 3 percentage points year over year to 76% in the second quarter.

Operating profit decreased 23% to €0.98 billion and Operating margin decreased by 4.3 percentage points to 14.8% due to higher share-based compensation expenses (primarily related to Qualtrics). Non-IFRS operating profit decreased 2% to €1.92 billion, up 3% (non-IFRS at constant currencies) and non-IFRS operating margin decreased by 0.3 percentage points to 28.8%, down 0.2 percentage points (non-IFRS at constant currencies) despite the accelerated cloud transition which resulted in higher margin software licenses revenue trending lower, as expected.

Earnings per share increased 57% to €1.15 (IFRS) and increased 50% to €1.75 (non-IFRS) reflecting another outstanding contribution from Sapphire Ventures. With Sapphire Ventures SAP supports entrepreneurs that aspire to build industry-leading businesses through venture capital funds. In the second quarter, the SAP Supervisory Board approved the financing of a new Sapphire Ventures fund (“Sapphire Ventures Fund VI”). The total volume committed for Sapphire Ventures Fund VI is $1.75 billion.

Operating cash flow for the first six months was flat year over year to €3.77 billion. Free cash flow increased 4% year over year to €3.25 billion. Positive effects from lower share-based compensation and lower restructuring payments were compensated by higher income taxes paid net of refunds. At quarter end, net debt was –€4.57 billion.

Expanded Financial Disclosure – SAP’s Accelerated Cloud Transition

Beginning in 2021, SAP expanded its financial disclosure to provide investors with transparency on the transition of its core ERP business to the cloud. Specifically, the Company discloses current cloud backlog and cloud revenue contributed by SAP S/4HANA Cloud, along with nominal and constant currencies year-over-year growth rates.

In the second quarter, S/4HANA current cloud backlog was up 45% (Non-IFRS) to €1.13 billion and up 48% (at constant currencies). S/4HANA cloud revenue was up 33% to €257 million and up 39% (at constant currencies).

SAP is seeing strong momentum with its S/4HANA current cloud backlog growth, in particular in the United States. SAP expects S/4HANA cloud revenue growth to significantly accelerate in the second half of 2021.

SAP S/4HANA Cloud represents SAP’s cloud offering for core ERP processes. It mainly includes cloud solutions for financial management, supply chain management, engineering and manufacturing, order management and asset management, as well as associated data management, analytics, development and integration capabilities.

‘RISE with SAP’, SAP’s holistic offering for business transformation in the cloud, is an important driver of S/4HANA Cloud and Business Technology Platform adoption.

Segment Performance Second Quarter 2021

SAP’s three reportable segments “Applications, Technology & Support”, “Qualtrics” and “Services” showed the following performance:

Applications, Technology & Support (AT&S)

Segment revenue in AT&S was flat at € 5.62 billion year over year and up 4% (at constant currencies). Segment performance was driven by strong double-digit cloud revenue growth in S/4HANA Cloud, Digital Supply Chain, Business Technology Platform, and Customer Experience, in particular ecommerce. Software licenses revenue decreased as anticipated due to strong adoption of ‘RISE with SAP’. Segment support revenues were up 1% year over year (at constant currencies) reflecting high retention rates coupled with the shift of some support revenue to cloud.

Qualtrics

Qualtrics segment revenue was up 25% to €211 million year over year, up 37% (at constant currencies). The continued strong growth was driven by robust renewal rates and expansions as customers increase their usage and acquire additional modules of Qualtrics to measure all four experience areas: customer, employee, product, and brand. Daikin, Merck KGaA, Mitsubishi Heavy Industries, M&T Bank, Noom, Trivago, Virgin Cruises and many others selected Qualtrics Experience Management Solutions.

Services

Services segment revenue was down 7% to €796 million year over year, down 3% (at constant currencies). While SAP continues to see solid growth in its Premium Engagement revenue on the back of a very resilient business model, consulting revenue declined year over year due to a strong prior year comparison.

Segment Results at a Glance

Segment Performance Second Quarter 2021

Applications, Technology & Support

Qualtrics

Services

€ million, unless otherwise stated

(Non-IFRS)

Actual

Currency

∆ in %

∆ in %

const. curr.

Actual

Currency

∆ in %

∆ in %

const. curr.

Actual

Currency

∆ in %

∆ in %

const. curr.

Cloud revenue

2,066

8

14

174

33

46

0

NA

NA

Segment revenue

5,619

0

4

211

25

37

796

–7

–3

Segment profit (loss)

2,279

–4

0

13

>100

>100

180

9

16

Cloud gross margin (in %)

69.2

–0.1pp

–0.2pp

92.4

1.4pp

1.5pp

NM1)

NM1)

NM1)

Segment margin (in %)

40.6

–1.6pp

–1.5pp

6.3

4.9pp

4.0pp

22.6

3.2pp

3.7pp

1) NM = not meaningful

Regional Revenue Performance Second Quarter 2021

SAP had a strong cloud performance across all of its regions.

In the EMEA region, cloud and software revenue increased 4% and 5% (at constant currencies). Cloud revenue increased 22% and 23% (at constant currencies) with Germany and Saudi Arabia being highlights.

In the Americas region, cloud and software revenue decreased 3% and was up 5% (at constant currencies). Cloud revenue increased 4% and was up 12% (at constant currencies) with a robust performance in Brazil and MexicoThe United States, SAP’s largest market, had a strong sequential acceleration in cloud revenue growth combined with an even stronger current cloud backlog growth.

In the APJ region, cloud and software revenue increased 2% and 6% (at constant currencies). Cloud revenue increased 18% and 23% (at constant currencies) with JapanAustralia and South Korea being highlights.

Financial Results at a Glance

Second Quarter 2021

IFRS

Non-IFRS1)

€ million, unless otherwise stated

Q2 2021

Q2 2020

∆ in %

Q2 2021

Q2 2020

∆ in %

∆ in % const. curr.

Current cloud backlog2)

NA

NA

NA

7,766

6,638

17

20

Thereof SAP S/4HANA Current Cloud Backlog2)

NA

NA

NA

1,130

780

45

48

Cloud revenue

2,276

2,044

11

2,276

2,044

11

17

Thereof SAP S/4HANA Cloud revenue

257

193

33

257

193

33

39

Software licenses and support revenue

3,474

3,665

–5

3,474

3,665

–5

–2

Cloud and software revenue

5,750

5,709

1

5,750

5,709

1

5

Total revenue

6,669

6,743

–1

6,669

6,744

–1

3

Share of more predictable revenue (in %)

76

73

3pp

76

73

3pp

Operating profit (loss)

984

1,284

–23

1,922

1,964

–2

3

Profit (loss) after tax

1,449

885

64

2,214

1,395

59

Basic earnings per share (in €)

1.15

0.73

57

1.75

1.17

50

Number of employees (FTE, June 30)

103,876

101,379

2

NA

NA

NA

NA

1) For a breakdown of the individual adjustments see table “Non-IFRS Adjustments by Functional Areas” in this Quarterly Statement.

2) As this is an order entry metric, there is no IFRS equivalent.

Due to rounding, numbers may not add up precisely.

Six months ended June 2021

IFRS

Non-IFRS1)

€ million, unless otherwise stated

Q1–Q2

2021

Q1–Q2

2020

∆ in %

Q1–Q2

2021

Q1–Q2

2020

∆ in %

∆ in % const. curr.

Current Cloud Backlog2)

NA

NA

NA

7,766

6,638

17

20

Thereof SAP S/4HANA Current cloud backlog2)

NA

NA

NA

1,130

780

45

48

Cloud revenue

4,421

4,055

9

4,421

4,057

9

15

Thereof S/4HANA Cloud revenue

485

360

34

485

360

34

41

Software licenses and support revenue

6,757

7,051

–4

6,757

7,051

–4

0

Cloud and software revenue

11,178

11,106

1

11,178

11,107

1

5

Total revenue

13,017

13,264

–2

13,017

13,266

–2

3

Share of more predictable revenue (in %)

77

74

3pp

77

74

3pp

Operating profit (loss)

1,944

2,494

–22

3,660

3,446

6

12

Profit (loss) after tax

2,519

1,697

48

3,934

2,409

63

Basic earnings per share (in €)

2.03

1.42

43

3.14

2.02

56

Number of employees (FTE, June 30)

103,876

101,379

2

NA

NA

NA

NA

1) For a breakdown of the individual adjustments see table “Non-IFRS Adjustments by Functional Areas” in this Quarterly Statement.

2) As this is an order entry metric, there is no IFRS equivalent.

Due to rounding, numbers may not add up precisely.

Business Outlook 2021

SAP is raising its full-year 2021 outlook, reflecting the strong business performance which is expected to accelerate cloud revenue growth. The Company continues to expect a software licenses revenue decline for the full year as more customers turn to the ‘RISE with SAP’ subscription offering for their mission-critical core processes. This outlook also continues to assume the COVID-19 crisis will begin to recede as vaccine programs roll out globally, leading to further improvements in global demand in the second half of 2021.

SAP now expects:

  • €9.3 – 9.5 billion cloud revenue at constant currencies (2020: €8.09 billion), up 15% to 18% at constant currencies. The previous range was €9.2 – 9.5 billion at constant currencies.
  • €23.6 – 24.0 billion cloud and software revenue at constant currencies (2020: €23.23 billion), up 2% to 3% at constant currencies. The previous range was €23.4 – 23.8 billion at constant currencies.
  • €7.95 – 8.25 billion operating profit at constant currencies (2020: €8.28 billion), flat to down 4% at constant currencies. The previous range was €7.8 – 8.2 billion at constant currencies.

SAP continues to expect the share of more predictable revenue to reach approximately 75% (2020: 72%).

SAP continues to expect operating cash flow of approximately €6.0 billion (2020 €7.2 billion) and free cash flow above €4.5 billion (2020 €6.0 billion).

SAP now expects a full-year 2021 effective tax rate (IFRS) of 21.5% to 23.0% (previously: 26.0% to 27.0%) and an effective tax rate (non-IFRS) of 20.0% to 21.5% (previously: 22.5% to 23.5%).

While SAP’s full-year 2021 business outlook is at constant currencies, actual currency reported figures are expected to be impacted by currency exchange rate fluctuations as the Company progresses through the year. See the table below for the Q3 and FY 2021 expected currency impacts.

Expected Currency Impact Based on June 2021 Level for the Rest of the Year (Non-IFRS)

In percentage points

Q3

FY

Cloud revenue growth

-3pp to -1pp

-5pp to -3pp

Cloud and software revenue growth

-2pp to 0pp

-4pp to -2pp

Operating profit growth

-3pp to -1pp

-4pp to -2pp

SAP is focusing on three non-financial indicators: customer loyalty, employee engagement, and carbon emissions.

In 2021 SAP continues to aim for:

  • a Customer Net Promoter Score of 5 to 10 (2020: 4),
  • an Employee Engagement Index in a range of 84% to 86% (2020: 86%)

As a result of the ongoing COVID-19 pandemic, as well as the introduction of a more flexible working model at SAP, the level of remote work will be higher than previously anticipated. As a consequence, SAP is lowering its 2021 carbon emissions outlook. SAP now expects carbon emissions in a range of 90 to 110 kt, assuming the high level of remote work continues. Previously, SAP expected 145 kt (2020: 135 kt).

The full Q2 2021 Quarterly Statement can be downloaded from http://www.sap.com/investors/sap-2021-q2-statement.

Additional Information

This Quarterly Statement and all information therein is unaudited.

Definition of key growth metrics
Current cloud backlog (CCB) is the contractually committed cloud revenue we expect to recognize over the upcoming 12 months as of a specific key date. Thus, it is a subcomponent of our overall remaining performance obligations following IFRS 15.120. For CCB, we take into consideration committed deals only. CCB can be regarded as a lower boundary for cloud revenue to be recognized over the next 12 months, as it excludes utilization-based models without pre-commitments and committed deals, both new and renewal, closed after the key date. For our committed cloud business, we believe the CCB is a valuable indicator of go-to-market success, as it reflects both new contracts closed as well as existing contracts renewed.

Share of more predictable revenue is the total of cloud revenue and software support revenue as a percentage of total revenue.

For explanations on other key growth metrics please refer to the performance management section of SAP’s Integrated Report 2020 and SAP’s Half-Year Report 2021, which can be found at www.sap.com/investor.

Webcast

SAP senior management will host a financial analyst conference call on Wednesday, July 21, at 2:00 PM (CEST) / 1:00 PM (BST) / 8:00 AM (Eastern) / 5:00 AM (Pacific). The conference will be webcast live on the Company’s website at www.sap.com/investor and will be available for replay. Supplementary financial information pertaining to the second quarter results can be found at www.sap.com/investor.

About SAP

SAP’s strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps to give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit http://www.sap.com.

Follow SAP Investor Relations on Twitter at @sapinvestor.

For customers interested in learning more about SAP products:

Global Customer Center: 
+49 180 534-34-24

United States Only:
+1 (800) 872-1SAP (+1-800-872-1727)

Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should” and “will” and similar expressions as they relate to SAP are intended to identify such forward-looking statements. SAP undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect SAP’s future financial results are discussed more fully in SAP’s filings with the U.S. Securities and Exchange Commission (“SEC”), including SAP’s most recent Annual Report on Form 20-F filed with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates.

© 2021 SAP SE. All rights reserved.

No part of this publication may be reproduced or transmitted in any form or for any purpose without the express permission of SAP SE. The information contained herein may be changed without prior notice.

Some software products marketed by SAP SE and its distributors contain proprietary software components of other software vendors. National product specifications may vary.

These materials are provided by SAP SE and its affiliated companies (“SAP Group”) for informational purposes only, without representation or warranty of any kind, and SAP Group shall not be liable for errors or omissions with respect to the materials. The only warranties for SAP Group products and services are those that are set forth in the express warranty statements accompanying such products and services, if any. Nothing herein should be construed as constituting an additional warranty.

SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE (or an SAP affiliate company) in Germany and other countries. All other product and service names mentioned are the trademarks of their respective companies. Please see www.sap.com/about/legal/copyright.html for additional trademark information and notice.

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Appdome Sweeps Cybersecurity Excellence Awards

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Unified Mobile Defense Platform Recognized for Innovation and Leadership Across Nine Cybersecurity Categories
REDWOOD CITY, Calif., May 21, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile defense, today announced it has received a total of nine (9) Cybersecurity Excellence Awards. The Appdome Unified Mobile App Defense Platform was awarded best in class across nine categories in recognition of the comprehensive breadth, depth and value of the Appdome platform to brands and enterprises alike.

“We congratulate Appdome on being recognized as an award winner in 9 categories of the 2024 Cybersecurity Excellence Awards,” said Holger Schulze, CEO of Cybersecurity Insiders and founder of the 600,000-member Information Security Community on LinkedIn, which organizes the 9th annual Cybersecurity Excellence Awards. “With over 600 entries across more than 300 categories, the awards are highly competitive. Appdome’s achievement reflects outstanding commitment to the core principles of excellence, innovation, and leadership in cybersecurity.”
Within a single pane of glass, Appdome delivers the most complete set of no-code, no-SDK, fully automated mobile defenses to mobile brands and enterprises, empowering mobile developers, cybersecurity, fraud and IT teams to deliver on any mobile cyber objective quickly and easily.
The nine (9) categories in which Appdome received a Cybersecurity Excellence Award are:
Mobile Security Platform: Appdome is the only enterprise-grade mobile security platform built for full mobile defense lifecycle management, visibility and control to brands and enterprises alike, including key features for build, test, release, monitor, response, and compliance automation. Mobile Security Automation: Appdome is the only mobile defense solution that uses machine learning to code and build over 300+ mobile app security, anti-fraud, anti-cheat, anti-malware, anti-bot, geo-compliance and other defenses in Android & iOS apps in the DevOps pipeline.Mobile Social Engineering Defense:  The Appdome Social Engineering Prevention solution is the first of its kind to protect mobile users from voice phishing (Vishing) scams and other imposter scams, T.O.A.D. attacks, Remote Access Trojans (RATs), Gold Pickaxe, FaceID bypass and more without an SDK or external servers.Mobile Bot Defense: The Appdome MOBILEBot™ Defense solution is the first mobile anti-bot solution to come out of the box compatible with any industry standard web application firewall (WAF) on the market and provide multi-layered bot, credential stuffing and Account Take Over (ATO) defense without an SDK, external server, performance limits, or restrictions.Mobile Geo Compliance:  Only the Appdome Mobile Geo-Compliance solution guarantees accurate and authentic geo location of mobile devices, applications and users without code or coding in the mobile app, without implementing an SDK and without deploying additional servers.Mobile XDR: The Appdome ThreatScope™ Mobile XDR solution is the only mobile attack and threat monitoring service that comes pre-packaged into the mobile defense lifecycle, requires no device agent, device profile, separate code, coding, SDK or server, and provides real-time detection and automated response across internal (employee facing) and external (consumer facing) Android & iOS apps.DevOps Mobile Security Tool: The Appdome platform’s fully integrated Security Release Management™ capabilities and Appdome Certified Secure™ mobile DevSecOps certification offer the only true enterprise-grade compliance assurance, audit and control for mobile defense at brands and enterprises, allowing quick verification that all security, anti-fraud and compliance objectives have been met.   Mobile Application Security:  With 300+ separate defenses for mobile apps, Appdome has the most comprehensive set of mobile application security features available in one product, fully compatible with all mobile Android & iOS apps.”Nine Cybersecurity Excellence Awards for Mobile Defense tells a very compelling story for the incredibly complex Dev, Sec, and Ops challenges organizations face detecting and defeating mobile-based risks and attacks,” said Chris Roeckl, Chief Product Officer at Appdome. “Point products make these challenges worse by adding complexity and overloading already taxed cyber and engineering teams. Appdome is the only platform simplifying work, bringing all these unique challenges under a single pane of glass, delivering 300+ protections and simultaneously resolving the security, fraud, resilience and compliance challenges brands and enterprises face.”
Learn more about the award-winning Appdome Platform at www.appdome.com or request a personalized demo at https://www.appdome.com/request-a-demo/appdome-home/
The full list of awards are available from the Cybersecurity Excellence Awards website  https://cybersecurity-excellence-awards.com/
About AppdomeThe Appdome mission is to protect every mobile app and mobile user in the world. Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control, and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
Logo – https://mma.prnewswire.com/media/772169/AppDome_Logo_9_27_23.jpg

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Courageous Whistleblowers Reclaim Derogatory Terms As Data Shows 80% of Financial Professionals Stay Silent on Suspected Internal Fraud, Fearing Retaliation

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Enron whistleblower, Sherron Watkins, alongside stars of Apple TV’s The Big Conn, Sarah Carver and Jennifer Griffith, reclaim derogatory labels for whistleblowers          Concerning new data shows more than half of financial professionals in the UK and US have spotted or suspected internal fraud in their workplaces, yet four out of five stay silent fearing retaliation          32% of professionals in finance have seen whistleblowers victimized behind their back or to their faceJACKSONVILLE, Fla., May 21, 2024 /PRNewswire/ — New data from fraud detection software company Medius shows more than half of financial professionals in the UK and US (56%) have spotted or suspected internal fraud in their workplaces yet four in five (81%) stayed silent. When asked why, 45% of professionals cited the fear of recrimination.

Whistleblowers Sherron Watkins, Sarah Carver and Jennifer Griffith have joined forces to reclaim the derogatory names they were called after reporting serious internal financial fraud.
To help empower others to come forward, the whistleblowers are reclaiming the terms “snitch”, “rat” and “traitor”.
Sherron Watkins is the former Vice President of Enron Corporation who alerted the CEO to accounting irregularities, warning the organization “‘might implode in a wave of accounting scandals.” Watkins received national acclaim for her courageous actions and TIME magazine named her along with two others as their Persons of the Year in 2002, calling them simply ‘The Whistleblowers.’
Sarah Carver and Jennifer Griffith are the stars of Apple TV’s The Big Conn after they exposed a fraud scheme of more than $550 million while employed at the Social Security Administration. In efforts to silence their disclosures, they experienced multiple acts of severe retaliation and were denied protection. Ultimately, both Carver and Griffith were forced from employment.
Concerns of repercussions are vindicated – the survey reveals the extent to which financial professionals in the UK and US have witnessed negative consequences for whistleblowers firsthand:           
59% have seen whistleblowers subsequently left out of important decisions           33% have seen whistleblowers moved to a different team           32% have heard whistleblowers called derogatory names behind their backs or directly to their faceWhen asked what would encourage them to flag suspicious activity, 93% of workers surveyed would feel more comfortable doing so if they had more evidence, yet nearly half (48%) said the legal system simply does not adequately protect whistleblowers.
Jim Lucier, CEO at Medius, a leading global provider of cloud-based accounts payable automation and spend management solutions, said:
“White collar crime is on the rise and no organization is safe. Employees are the last line of defense against fraud but confidence to report suspicious activity is declining. AI anomaly-detection technology can provide employees with the evidence and assurances they need to be more forthcoming. Building a culture where employees feel comfortable to report their suspicions could save organizations millions in the long-run.”
Medius works with over 4,000 customers across 102 countries and processes $200 billion in annual spend. It uses the power of AI and automation to detect fraud the moment invoices are submitted safeguarding against bad actors and potential threats, internal and external.
Sherron Watkins, whistleblower who was called a “snitch”, said: “When someone is troubled by corporate wrongdoing and they attempt to sound the alarm, the pathway is uncharted, things happen organically. Normal rational people speak about their concerns with their closest friends and work colleagues, who often suggest staying safe saying “keep your head down, if you must report, go soft, nothing black and white.” Yet black and white evidence is what is needed to get the attention of those in power, either internally or with media or outside watchdog groups to prevent or stop fraudulent activity.”  
Jennifer Griffith, whistleblower who was called a “traitor”, said: “Choosing to blow the whistle involves more than just the desire to right a wrong.  It’s about protecting their employers from fraud. However, it’s more often than not seen as causing trouble for the employer, or as a self-serving action to get a financial reward. No one who chooses to blow the whistle expects to have their reputation attacked, their credibility impugned or to lose their job. The cost of ignoring a whistleblowers complaints are far greater than acknowledging that a problem exists and taking steps to fix it.  It’s been 19 years since I blew the whistle and the problems that existed then with the Social Security Administration still exist today. We must do more to protect whistleblowers.”
Sarah Carver, whistleblower who was called a “rat”, said: “The government’s attempt to conceal the fraud resulted in exacerbated damage, whereas a more prudent approach would have entailed immediate acknowledgement and rectification upon initial disclosure. The retaliatory measures aimed at silencing me made me stronger and fight harder to find someone to listen and stop the fraud.”
Georgina Hallford-Hall, CEO of Whistleblowers UK, said: “Too many organisations talk the talk but fail to engage with whistleblowers often at great cost to both. Technology used properly can remove the fear that both organisations and whistleblowers have about dealing with whistleblowing because it removes the person and focuses on the concerns or malfeasance. WhistleblowersUK are calling on the UK government to introduce an Independent Office of the Whistleblower to protect everyone from discrimination setting standards that end stigmatisation and discrimination making it safe to speak up.”
The billboard advertising campaign runs on Wall Street from Saturday, 18th May to Friday, 24th May 2024.
For more information about how Medius can prevent fraud, visit: https://www.medius.com/whistleblowing/
Notes to Editor
Methodology
The research was conducted by Censuswide with 1500 financial professionals in the UK and US (aged 18+) between 04/22/24 – 05/07/24. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.
For more information, please contact: 
Fight or Flight for [email protected] / +44 330 133 0985
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/medius/r/snitch—traitor—rat–courageous-whistleblowers-reclaim-derogatory-terms-as-data-shows-80–of-fina,c3985054

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Artificial Intelligence

ThroughPut.AI and Inteligistics Announce Strategic Partnership to Transform Agriculture and Fresh Produce Supply Chains

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throughput.ai-and-inteligistics-announce-strategic-partnership-to-transform-agriculture-and-fresh-produce-supply-chains

The Partnership focuses on driving maximum optimization of both the supply chain and interwoven cold chain to improve sales, profit margins, output, safety, and traceability.
PALO ALTO, Calif., May 21, 2024 /PRNewswire/ — ThroughPut Inc., the industrial AI supply chain Decision Intelligence pioneer, and Inteligistics, the leading digital visibility solutions provider for perishable supply chains, today announced a strategic technology alliance to accelerate profitability for the sales of perishable goods. This area is typically plagued by volatile prices and volumes, poor predictions, limited supply chain visibility, and excessive product spoilage. This leads to high rejection and discount rates, and avoidable lost margins. ThroughPut.AI, in collaboration with Inteligistics, will enable growers, suppliers, carriers, distributors, and retailers to significantly improve the efficiency of their supply and cold chain operations, thus ensuring that all fresh products – ranging from berries and vegetables to fish and meat – is sold profitably on-time and in-full for faster, fresher and safer delivery with full supply chain visibility.

Mutual customers introduced ThroughPut.AI and Inteligistics as complementary partners due to ThroughPut.AI’s patented, Gartner-ranked comprehensive Supply Chain Analytics & Decision Intelligence software, with Inteligistics’ industry-leading expertise in supply chain performance, productivity, and sustainability, where both have yielded high-value outcomes for customers, their consumers, and owner-investors across the globe. The two companies also share a common goal of minimizing waste, shrink, unfilled orders, and lost sales.
“We’re delighted to partner with Inteligistics as we look to expand our capabilities for our clients in the critical Food and Agricultural industry. Food and AG supply chains suffer from siloed legacy point solutions that don’t address today’s supply chain networks’ complexity and volatility. To overcome these modern Food and AG supply chain challenges, already existing but disparate data must be tapped into, stitched together, analyzed, visualized, and optimized with Industrial-grade AI for actionable recommendations and better results,” explained Seth Page, COO and Head of Strategic Partnerships of ThroughPut Inc. “By partnering with Inteligistics, we can provide customers with our unprecedented supply chain visibility, actionability, predictions and recommendations into customers’ cold chain operations as part of their larger end-to-end supply chain networks. This allows customers to leverage data at every step of the way to make the right produce available at the right place, at the right time, to the right customer, at the best price, in the correct quantities, and in the safest traceable manner possible.”
“Our partnership with ThroughPut.AI will empower agricultural producers, and buyers to leverage data for timely, intelligent decision-making, while accelerating margins,” said Rao Mandava, CEO and Chairman at Inteligistics. “Our customers will now have a unified common operating picture for a single source of truth for all their perishable inventory, enabling them to reduce risk, increase safety, and unlock new growth opportunities. The data is also available for our recently unveiled 1-Click FSMA 204 Traceability reporting solutions. All our supply and cold chain solutions work with data from a company’s legacy data platforms, including ERP, WMS and procurement systems, eliminating the major operational disruption associated with platform replacement.”
Joint Capabilities
Bringing together ThroughPut’s patented and award-winning AI-powered Supply Chain Advanced Analytics and Decision Intelligence solution with Inteligistics’ innovative supply and cold chain performance improvement capabilities will empower their customers to drive additional value in many key areas including the following:
Fill Rate: The joint solution will provide customers with an innovative fill rate model that will enable them to:Dynamically allocate products when farm and producer outputs vary, thus ensuring timely demand fulfillment.Proactively forecast customer demand, pricing, and volumes, as well as leveraging advanced analytics to balance supply with demand on a real-time basis.Tailor fill-rates based on customer segmentation, helping customers to prioritize higher contribution margin product mixes with the best on-time and in-full (OTIF) rates to maximize returns.Scheduling: The combined solution will empower suppliers and buyers to optimize loading facility and cross-docking queuing, slotting, scheduling, loading and usage via:Data-driven recommendations for ideal order fulfillment time-slots based on customer segmentation, available inventory, and priority-based delivery of in-demand products across the supply chain.Ensure necessary labor, docks and slots are available for loading on time to further enhance operational efficiency, greater throughput, higher output, and additional revenue and profit generation.Streamline the scheduling process and maximize order fulfillment while minimizing delays, idle time, and site traffic.Rejection and Discount Rates: Leveraging data inputs from Inteligistics and ThroughPut.AI will deliver fresh Food & Agriculture specific capabilities, including:Actionable insights and recommendations to optimize end-to-end supply chain operations while maintaining traceable product quality and food safety, for a greater bottom-line with enhanced regulatory compliance.Minimize rejection factors by analyzing data on product temperatures, sales history, and movements across supply chain networks to predict the likelihood of rejection or discounts, while reducing rejection rates and discounts in shipments that are fully traceable and quantifiable.Minimize waste and discounts to consumers by managing the inventory from DCs to stores using predictive shelf life and First Expire/First Out distribution.PR Contact
Tina Jacobs
[email protected]
About ThroughPut:
ThroughPut.AI is a Silicon Valley-based Supply Chain AI leader that puts Industrial material flows on Autopilot by leveraging existing Enterprise Data to achieve superior Business, Operations, Financial and Sustainability Results. ThroughPut.AI’s patented, Gartner-recognized AI-powered Supply Chain Analytics and Decision Intelligence software platform predicts Demand, reorients Production Capacity, reassigns Warehouse Space, and reorders Materials optimally, so businesses minimize overpromising and under-delivering, and maximize for their desired outcomes. As a rapid diagnostic platform, ThroughPut.AI both improves material flow and free-cash-flow across the entire end-to-end value chain far faster than leading contemporary and legacy solutions could ever imagine. The founding team is led by seasoned serial entrepreneurs with real-world AI, Supply Chain, Manufacturing, Transportation and Operations experience, from the shopfloor to the top-floor, at leading Fortune 500 Industrial Companies & pioneering Enterprise Technology companies that have impacted the world.
To learn more about ThroughPut Inc, visit our website today.
Additional Resources:
Learn more about ThroughPut Food and Beverage Solution OfferingsFor more information about ThroughPut, visit ThroughPut Resource LibraryRead the ThroughPut Blog and access latest ThroughPut Press CoverageAbout Inteligistics: 
Inteligistics is uniquely placed in perishables industries using Silicon Valley technology and process improvements to bring digital transformation, turn Big Data into clear actions through AI/ML, and deliver high value improvements to supply chain and cold chain performance for perishable commodities. The resulting increase in productivity and reduction in critical cut-to-cool times, resources help meet sustainability goals. Using IoT, off-the-shelf wireless hardware, and proprietary cloud-based applications, Inteligistics develops custom solutions and provides an end-to-end integrated supply chain platform and standalone applications that improve quality, throughput, increase profits and deliver high ROI on the critical process of moving product from field to consumer. Visit inteligistics.com and linkedin.com/company/inteligistics.

View original content:https://www.prnewswire.co.uk/news-releases/throughputai-and-inteligistics-announce-strategic-partnership-to-transform-agriculture-and-fresh-produce-supply-chains-302151475.html

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